Parsons Corporation $PSN is Paradoxiom Capital L.P.'s 5th Largest Position

Key Points

• Paradoxiom Capital L.P. significantly increased its stake in Parsons Corporation by 134.9% during the first quarter, now holding 137,561 shares which accounts for about 5.3% of their portfolio.
• Parsons Corporation reported an earnings per share (EPS) of $0.78 for the recent quarter, surpassing analyst expectations of $0.74, although revenue decreased by 5.1% year-over-year.
• Analysts have mixed ratings on Parsons, with a current average rating of "Moderate Buy" and a target price around $88.70, reflecting varying levels of confidence among investors.

Paradoxiom Capital L.P. lifted its position in Parsons Corporation (NYSE:PSN - Free Report) by 134.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,561 shares of the company's stock after acquiring an additional 79,005 shares during the period. Parsons accounts for 5.3% of Paradoxiom Capital L.P.'s holdings, making the stock its 5th largest position. Paradoxiom Capital L.P. owned about 0.13% of Parsons worth $8,145,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PSN. Versant Capital Management Inc acquired a new stake in Parsons during the 1st quarter worth $27,000. UMB Bank n.a. boosted its position in Parsons by 238.7% during the first quarter. UMB Bank n.a. now owns 552 shares of the company's stock worth $33,000 after acquiring an additional 389 shares during the last quarter. Fifth Third Bancorp grew its stake in Parsons by 1,803.4% during the 1st quarter. Fifth Third Bancorp now owns 552 shares of the company's stock valued at $33,000 after acquiring an additional 523 shares in the last quarter. Banque Transatlantique SA acquired a new stake in Parsons in the 1st quarter valued at about $34,000. Finally, Signaturefd LLC lifted its stake in Parsons by 63.1% in the 1st quarter. Signaturefd LLC now owns 610 shares of the company's stock worth $36,000 after purchasing an additional 236 shares in the last quarter. 98.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PSN shares. Bank of America reduced their price target on shares of Parsons from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Tuesday, June 3rd. Stifel Nicolaus assumed coverage on shares of Parsons in a research report on Tuesday, June 24th. They issued a "buy" rating and a $81.00 price target for the company. The Goldman Sachs Group cut their price target on Parsons from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, June 4th. Truist Financial boosted their price objective on Parsons from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Baird R W raised shares of Parsons from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Parsons presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.70.

Parsons Stock Up 0.4%

Parsons stock traded up $0.26 during mid-day trading on Wednesday, hitting $74.76. The company had a trading volume of 969,704 shares, compared to its average volume of 925,558. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 3.93 and a beta of 0.63. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.47. Parsons Corporation has a 1 year low of $54.56 and a 1 year high of $114.68. The business has a fifty day moving average of $76.85 and a 200 day moving average of $68.55.

Parsons (NYSE:PSN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.04. Parsons had a net margin of 3.70% and a return on equity of 12.36%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the firm posted $0.84 EPS. The company's revenue was down 5.1% on a year-over-year basis. On average, sell-side analysts expect that Parsons Corporation will post 3.58 earnings per share for the current fiscal year.

Parsons Profile

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.